The NBA’s Board of Governors has unanimously approved Marc Lore and Alex Rodriguez as the official owners of the Minnesota Timberwolves and WNBA’s Lynx, finalizing a long-delayed sale process that began in 2021.
Lore will serve as governor of the Timberwolves, while Rodriguez takes the role of alternate governor. For the Lynx, Rodriguez will be governor with Lore as his alternate.
The approval almost three months after Glen Taylor agreed to transfer full control of both franchises to the investor duo, ending a contentious legal dispute.
Taylor, who bought the Timberwolves for $94 million in 1994, will step away after 31 years of ownership. The sale is valued at $1.5 billion, a price agreed upon in 2021 before valuations across the league surged.
In February, an arbitration panel ruled in favor of Lore and Rodriguez after Taylor claimed they had missed a key payment deadline. The decision allowed the group to proceed with acquiring the remaining stake in the team.
Lore and Rodriguez had already secured 36% of the franchise in previous transactions and reportedly placed $950 million in escrow to finalize the deal.
With the NBA’s formal approval now complete, the ownership transfer is official, as reported by Mike Vorkunov of The Athletic.
Taylor’s exit ends an era that included highs like Kevin Garnett’s MVP run and the franchise’s first Western Conference Finals appearance in 2004. However, recent years have been marred by on-court inconsistency and off-court uncertainty.
Under their new leadership, the Timberwolves are coming off a 49-33 regular season and reached the Western Conference Finals before falling to the Thunder in five games.
